Nilaish Banknotes World

Nilaish Life Member - IBNS-IBCC "There are few notes denominated 500 Rupees are issued by RBI in 2014 which are signed by D. Subbarao, is a very interesting observation. However, it is said by RBI that process of changing signatures on notes of the new Governor is a tedious process."   The Hindustan Times correspondent reported that ( HT: 4 March 2014 ), "Take Note: RBI goofs up, as invalid notes in circulation".. It is found that some 500 Rupees notes of 2014 carry signature of D. Subbarao, who was previous Governor of RBI in 2013. New Governor, Raghuram Rajan joined the office in the same year. I came across an example and thus, collected it. It is presently sold in collector's market for Rs. 750-1000. An example can be seen below from my collection:  2014: 500 Rupees, signed by Duvvuri Subbarao having serial number 3KN 417376 with inset E. The HT correspondent reported that, "In an embarrassing goof-up, the Reserve Bank of India (RBI) h...

Nilaish Life Member - IBNS-IBCC "It is surprising that commonly collectors cherish for Portrait Notes of Kings and Queens... which were issued after regulation of 1861 in India. It is a challenge for any collector, to possess any example prior to 1861!"  I ndia has a vast history of paper money. It dates back to 1770 A.D. when Bank of Hindostan was first founded and issued paper money in India. India was divided into three Presidencies viz; Bengal Presidency, Bombay Presidency and Madras Presidency. East India Company was ruling these three presidencies and Governor General in Council was responsible for rules and regulations in provinces. India was under East India Company Rule till 1858, when the transfer of power happened to the British Crown, Queen Victoria. Bagachi (1997) and DasGupta (1927) recorded that Indian Banking was regulated time and again by East India Company owned banks; Bank of Bengal (1809-1922), Bank of Bombay (1840-1922) and Bank of Madras (184...